All IPE articles in November 2002 (Magazine) – Page 2
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Features
Time for liability-driven benchmarks
We are all told early on in pensions investment theory that you can’t invest without incurring risk and that, indeed, you have to accept risk to achieve reward. Now, after years of investing in the equity market, apparently without risk, as returns rolled in without having to worry , it ...
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Features
Blown off course
Professionals in the Spanish pensions market will remember this month as the end of a long process during which Spanish companies were forced, by law, to externalise their pension reserves by establishing a pension fund or an insurance contract. Previous deadlines regarding this outsourcing were postponed due to disagreements among ...
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Features
Bonds - suitable case for treatment
With many active bond managers failing to outperform their clients’ benchmarks over the last few years, indexing, or passively managing bond portfolios is becoming an increasingly popular alternative for plan sponsors. A passive strategy is defined as one that strives to match the return of the portfolio to a given ...
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Features
Managing disability costs in Canada
Like many jurisdictions around the world, Canada is experiencing significant increases in benefit costs, notably medical and disability costs. Several factors contribute to disability cost increases but there are three major factors common to many countries – the ageing work force, stress and depression, and a strained healthcare system. For ...
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Features
Danner win helps tax cause
The European Court of Justice has delivered a judgement in favour of Rolf Dieter Danner in a move that confirms elements of Finnish tax legislation contravene EU legislation. As expected, the judgement follows the March opinion of the advocate general and the outcome is likely to boost other tax discrimination ...
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Features
‘Transformation of Pension Systems in Central and Eastern Europe'
This is a book edited and written by social policy academics on the state pensions systems of the “Visegard four” central European states (Czech Republic, Hungary, Poland and Slovakia) and the three Baltic republics (Estonia, Latvia and Lithuania). It provides a brief overview of their respective social security systems before ...
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Features
Consumer 'will not crack'
Battered and bruised after almost three years of collapsing markets, equity investors have just experienced the largest quarterly decline in US, UK and European shares since 1987. Japanese stocks have also reached a new 19-year low. Consequently, bond yields have been falling sharply as investors have sought shelter. So, why ...
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Features
Covip lays down the law
Much of the future of Italy’s new complementary DC plans lies in the hands of the Commissione Vigilanza sui Fondi Pensione (Covip), which was set up to regulate them. Covip has been severely criticised by pension funds for what they see as the excessive bureaucracy of the approval process. It ...
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Features
Turning down the volume
Pension funds and their consultants are wary of hedge funds, largely because they cannot pigeonhole them into any of the traditional asset classes, and therefore find them difficult to benchmark. As a result, they have tended to approach them through the multi-manager route, rather than directly. By apportioning a mandate ...
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Features
Dublin surge
Assets in alternative investment funds domiciled in Dublin have increased to $10.8bn from $3.1bn one year ago, according to investment fund research company Fitzrovia International. Fitzrovia highlights the attraction of Dublin as a centre for cash funds with fund assets rising by 60% to $117.3 bn from $73.2bn one year ...
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Features
Factors in global equity success
Experience and a pragmatic approach are the critical factors in boosting relative performance for global equity managers according to the latest analysis of offshore based funds, published by Standard & Poor’s Fund Research. In the current bear market, few global equities fund managers have experienced such a protracted recession. Long ...
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Features
Where ETFs fit portfolios
Exchange-traded funds have been one of the success stories of the last decade. These neatly packaged products, which give the performance of an entire index in a single stock, have grown in popularity with retail and institutional investors alike since they came into existence. Like an index fund, they give ...
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